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Fooling with the highlight facility for the first time produces the unintended effect shown..
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The following gives insight to the use of the words 'strategy' or 'strategic' in the AGM transcript
posted earlier:
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From RNS 17.09.2020

Strategy update highlights
• New strategy to focus on organic, R&D and acquisitive growth in the respiratory and transplant bacterial and viral diagnostic markets
• Investment in R&D and commercial infrastructure to deliver new products and establish a direct sales force in key markets in the US and across Europe
• Selective product/technology and company acquisitions to generate additional revenues and profits to offset potential future reductions in COVID-19 revenues and enhance the Group's trajectory towards becoming a market leader in respiratory and transplant clinical diagnostics
• Acquisition of specific assets to enable Novacyt to expand its core capabilities whilst maintaining attractive margins
• Investment in developing new IP portfolio to enhance and secure future value

Outlook
Novacyt's near-term focus is to deliver strong organic revenue growth in the core business, where the Directors believe demand for its products will continue to grow into at least H1 2021 as COVID-19 testing continues. In the medium-term, Novacyt expects to leverage its reputation, market intelligence and relationships developed during the COVID-19 response to commercialise new products, as well as expand its presence in respiratory and transplant clinical diagnostics, to meet significant unmet market needs. The Directors expect to supplement the Company's product portfolio and expand its core capabilities through executing selective and accretive M&A at the right time.

The Directors reiterate guidance announced on 13 July 2020; given the visibility of orders, extended contracts and the launch of new COVID-19 related products, revenue for the second half of the year is expected to be greater than the first half of the year and margins to be at least at a similar level. Full year revenues are expected to exceed €150 million and EBITDA profitability to exceed €100 million. The Company expects this rate of financial performance to extend into the first half of 2021. The Directors remain confident in and excited by the prospects of the business, not only for the short-term, but also for the longer-term.
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I hope this helps you as much as it did me in interpreting the transcript.

https://www.varsity.co.uk/news/20384
The Cambridge Varsity newspaper contains the above story concerning celebrations for 2,000,000 tests
performed since opening.

Professor Andy Neely, Pro-Vice-Chancellor for Enterprise and Business Relations at the University of Cambridge said:
"This is a tremendous achievement and testament to the hard work of the team involved in setting up and running this facility."

I emailed Andy Neely enquiring whether 2 Million tests was the correct number of tests performed at the
lighthouse lab, and whether any tests were performed elsewhere in Cambridge.

Response:
Yes, the lab on the Cambridge Biomedical Campus has now processed over 2 million tests.

I hope there is another lighthouse lab using Covid-HT!

57:00
Shareholder questions, (not all the questions asked are below):

Can you explain the plans for current and future manufacturing capacity, and do you foresee any supply chain constraints?

Today the company has no supply chain constraints for the product demand it is currently experiencing, and has capacity for it strong order pipeline including the phase 1 contract announced this morning.
We have built and maintained a high manufacturing capacity with flexibility which allows us to create levels of inventory meaning we can react to demand when it arises.
We are prepared for contracts such as the contract we received this am.
This contract took a significant time to negotiate.
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Are there plans for products in the covid-19 range after the latest anti-body release?
We are continuing to innovate covid-19 testing, and more broadly for respiratory and transplant clinical diagnostic markets we will address unmet needs in these markets as the demand for testing continues.
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How do you see the competition, NCYT USP, and what risks and opportunities do you see as CEO in the next 12 months?

The market for covid-19 is estimated to be $70 Billion this year, and that figure excludes any value associated with covid-19 testing.
Some analysts are reporting that for next year covid-19 testing could be anything between 25 bil and 40 bil US dollars worldwide, therefore the opportunity for this company and many others is very high,.
I believe there is room for everyone, and for many more different technologies whether they come from NCYT or others.
In the short term, I believe the single largest risk for NCYT is developing our infrastructure fast enough to continue the rapid rate of innovation and the delivery against the demand we are seeing.
By doing so we will continue to transform the business and build a long term foundation with which to create value for shareholders.
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How is the development, the sales of NCYT and Primerdesign Covid-19 tests going in the US?

Today the US is one of the top performing countries, for sales, but given the scale of the opportunity there, there is significant growth for more.
To maximise this opportunity we are looking to strengthen our presence in the US market, where as today we only have one employee.
We will be doing that through a combination of organic investment and possibly M&A.
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What has been the recruitment over the last 6 months?

We have hired over 60 people, the primary focus has been on R&D and manufacturing and commercial roles as we receive larger and larger orders, particularly here in he UK.
Sales support will be an increasing area of investment for us, and on the back of the contract received this morning, we will be making more investment here in the UK market.

Excerpt from NCYT AGM 29 Sept 2020

NCYT vision: To become a market leader in respiratory and Transplant clinical diagnostics

Start of year Euronext = 95% of shareholding traded on Euronext, 5% on UK AIM

September 2020 = 70% of shareholding traded on Euronext, 30% on UK AIM

46:30
Today the diagnostic market is worth over $70 Billion and is growing very rapidly (BIS research; Global In VItro Diagnostic Market, July 2020),
We believe therefore that Novacyt is very well positioned, with its strong financial fundamentals and its strategy to be able to capitalise on the new focus that is being brought to bare on diagnostics.
In terms of our investment in R&D we are very clear on which market segments we are going to work on and will be develoing a 5 year plan with a number of pipeline opportunities to exploit
the opportunities that we see in the respiratory and transplant markets.
We also plan to invest and establish a direct sales force in a number of key markets, so today NCYT has a single sales force and are direct in UK only.
Through a combination of our investment and targeted M&A we will be looking to expand our direct presence in a number of these key markets.
We are looking to add revenues and add to the profitability of the group.
By doing this we believe we will offset and hedge the risk of loss of covid-19 revenues at some point in the future, I would hasten to add that we do not see this happening short term
and believe Covid-19 will be with us unfortunately for some time to come.

We will also be looking for specific assets or acquisition of assets that will allow us to create further strategic value.
This may mean additional products that we acquire or mean specific assets that provide improved vertical integration and the control of the business going forward.

54:00
In terms of M&A strategy - we do actually have some short term targets, and that's largely as part of our vertical integration strategy. (Turned out to be IT-IS International).
We will have more medium term larger accretive revenue and profitability generating targets which we would plan to focus on probably during the first half of next year.
So we are very clear we are looking at building the business rapidly with the transformative nature of our cash position.

While we wait for any news of DHSC pt2:

From the 30.09.2020 AGM video:
In the questions and answers section at the end of the September AGM,
GM stated that 'America is one of Novacyts top performing countries for sales'.

As Exmex previously stated, evidence for this is thin on the ground.
I would have thought that one of the most likely sources for evidence collection would be observing which tests private US laboratories and clinics are using to provide 'fit to fly' certificates.

Some of the most likely US airports from which airlines operate intercontinental flights are:
Baltimore
Philadelphia
New York
Boston
Chicago
Los Angeles
San Francisco
Denver
Seattle
Vancouver
Florida (Miami, Orlando, Tampa)
Atlanta
Phoenix

I'm hoping the list is fairly comprehensive .

Any volunteers to assist with identifying where Primerdesign test users are located?

The purpose is to try to verify the companies claim of the US being one of the top performing countries for sales ;)

Deas999 - "The 2 gene kit produced by primer design is being priced out of the market by seegene and thermofisher."

Standing this on it's head, - is it likely that Primerdesign are not willing to reduce their margin?
I can't see seegene and thermofisher drastically undercutting Primerdesign if this were the case.

Graham Mullis, Chief Executive Officer of Novacyt, commented:
"I would also like to take this opportunity to thank Anthony personally for the key role he has played in helping transform Novacyt into a leading diagnostics developer and manufacturer.

His new, important role reflects the Company's growth strategy, which includes selective potential M&A to supplement organic growth initiatives."

Anthony's new role is the most important news in this RNS I believe.

McCarthy must have been advised to put some skin in the game for consideration for board membership.
How could he lose if his board membership bid failed, - he would still be left with 10,000 NCYT shares.
Luvely jubbly says he, when's the next share buying window?

AGM video here:
https://www.youtube.com/watch?v=amjoVe7ihck&feature=youtu.be

Airlineboy, your 15:17 post
'What worries me a tiny bit is that we might be inadvertently building ourselves up for disappointing news come the end of January (I really hope not). Time and again on Twatter, Primer Design have made it known that they have unlimited tests available to anyone who might wish to purchase them with their full contact details. I confess I worry about that, surely we should be flat out with little or no surplus tests available?'

Tonight I reacquainted myself with some of the content of this video:

30.09.2020 AGM video 25:00 mins - Anthony Dyer:

"We have chosen to invest heavily in building a strategic level of inventory because that allows us to respond rapidly to any demand anywhere in the world, so a selling point of ours is not only can we make significant amounts of this stock but we are also able to deliver quickly wherever need is identified.

...Capital expenditure in this business, as with many in diagnostics is not a strong feature of the business.
This year we have not spent, nor have we needed to spend significantly on capital expenditure, and part of that is explained by the fact that some of our expansion is through use of subcontractors, and where we have expanded our internal manufacturing, that has largely been done by finding efficiencies in our own processes."

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..and I would be surprised if they had not found economies of scale everywhere..

I hope this helps.

I recommend slowing the video down so you don't miss some great info.
The video IS over an hour long, but large parts are in French and duplicate what is said in English.

A previous poster stated -ve LFT tests were confirmed by PCR in France about a month ago.
Since then France have cancelled an order for LFT I believe?
Could you please confirm if any French posters are reading?

Lets hope you are wrong there Porky.
I would hope to have EUA by end of January, IF the FDA EUA application was submitted in August :)

EUA granted 22.12.2020 for BioFire® Respiratory Panel 2.1

Porky, - from the following example, I think that Primerdesign Winterplex will require separate FDA EUA application:
https://www.fda.gov/media/137583/download

BioFire® Respiratory Panel 2.1 (RP2.1)

SUMMARY AND EXPLANATION OF THE TEST
The BioFire RP2.1 is a real-time, nested multiplexed polymerase chain reaction test designed to simultaneously
identify nucleic acids from 22 different viruses and bacteria associated with respiratory tract infection, including SARSCoV-2, from a single nasopharyngeal swab (NPS) specimen. Specifically, the SARS-CoV-2 primers contained in the
BioFire RP2.1 are designed to detect RNA from the SARS-CoV-2 in nasopharyngeal swabs in transport media from
patients who are suspected of COVID-19. Internal controls are used to monitor all stages of the test process.

Sofitel Heathrow Terminal 5 hotel offer ‘Saliva Test & Rest’ package for COVID.
Uses HALO.

https://www.thetravelmagazine.net/sofitel-heathrow-terminal-5-hotel-to-offer-test-rest-package-for-covid.html

'As you appreciate 1st May to 31st Dec = 240 days approx , therefore 2m / 240 = 8,333 tests per day'

Shaun - 2 Million tests / 1536 (tests per Covid-HT kit) = 1302 kits
1302 / 240 is less than 6 Covid-HT test kits per day.

I agree - something is wrong.

Ad4you, - Apologies for the faux pas, - the quote does include patents, but also includes 'know-how'
- product knowledge not protected by patent.

It is IT-IS know-how I think are the subject of some of the 15 new patent applications.

Exmex -
On the current turnover that could save a significant amount of tax on newly patented product's if the above is correct.

Patent box criteria discussed here:
https://www.gov.uk/government/publications/the-patent-box-calculating-relevant-profits/the-patent-box-calculating-relevant-profits

I think an accountancy background is required to make total sense of the above, but a quick glance reveals that only benefits for products already patented are available?

Ad4you -
Also - I wonder what will eventually appear as the 15 patents that were submitted - Ref Novembers R&D RNS ?
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Acquisition of IT-IS Int Ltd - RNS 15.10.2020:

"Terms of the acquisition

"The acquisition includes the customers, suppliers, software, patents, trademarks, contracts, stocks,
technical files and know-how in order to design, manufacture, distribute and market all of IT-IS's
commercial product portfolio.
In addition to the q16 and q32 instruments, this include IT-IS's own branded instruments,
MyGo Mini and MyGo Pro."

Please note that the above does not include patents, but does include 'Know-how'.
I would assume from this that some of the know-how purchased is being converted to patents,
which may explain some of the 15 patent applications.

Shaun,

Now working 24 hours around the clock, I suspect they are now getting to around 30K per day?
What is your take on the current number of daily tests?
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I think 30,000 / day was achieved by June latest.

This target was 30,000 COVID_19_CE_IVD tests / day (which would include the requirement to extract RNA before further processing), and subsequently Covid-HT was developed.
RNS 18.06.2020:
"COVID-HT uses the Company's proprietary master mix which, unlike the standard COVID-19 kit, requires no premixing, and the test components are packaged to facilitate a more streamlined workflow in a highly automated laboratory setting. As a result, COVID-HT is expected to improve operational efficiency and save time and labour associated with handling and preparing the test for use."

I don't believe we have an update that quantifies how much the workflow efficiency improved.
Further to that, the Covid-HT may have been further improved by the introduction of ideas / technology from exsig-COVID-19 and Promate technology.
It may not of course, but as innovation is so strong, why be happy with the HT test, if GSK and AZN would also be happy if you could make the covid-HT product faster yet.

I would not be surprised if this was the case as NCYT has not published the IFU (Instruction for Use).

So to try and answer your question, I would say that a conservative 25% faster would allow Cambridge to process Covid-HT at the rate of 37,500 tests / day, but I have no figuers with which to make a better guess.

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note 13.07.2020 RNS:
"Development of the Company's COVID-19 test established Novacyt as a pioneer and a leader in COVID-19 diagnostics.
Novacyt remains committed to building on this world-class innovative position for COVID-19 testing,
and more broadly for respiratory disease testing, and is investing to address unmet needs in the market.
Novacyt has already launched three new innovative products, COVID-HT, Exsig™ Direct and Exsig™ Mag,
to support laboratories testing for COVID-19.
These products are expected to drive incremental revenue and the Company received initial orders
in June 2020 following their launch."